As so astutely observed by all, this is not a "business" but an extremely expensive club. I believe that personal transportation improves in a direct relationship to your wealth from foot to bike to bus to taxi to car to train to plane to yacht to private jet.
The desire to amortise those costs by renting out your aircraft probably means you weren't quite wealthy enough to buy it in the first place. Most people who amass the sort of money needed to even consider buying and operating a jet did not achieve that status by being stupid. Even the most cursory audit would reveal that this was the easiest way to become a millionaire provided you started as a billionaire!
There are, amazingly, still folk who think they can come up with some new "formula" for making money out of corporate aviation...exempt Mr. Santulli, no one has cracked the code yet of ownership+profit.